When you have to give up one thing in order to get another this is called a Tradeoff.
Why do we have tradeoffs?
- As a result of scarcity, the resources available to us are not enough for all our needs and wants.
- We are forced to choose between needs and wants that will be satisfied.
Tradeoffs therefore lead to opportunity costs because we would be giving up the benefits of the alternative to the option we chose.
Find out more on tradeoffs at https://brainly.com/question/7072776.
